OSA Weekly Update - 5/5/2023
1. Message from Auditor Blaha
2. Released: Pension Newsletter
3. Available: 2022 TIF Annual Reporting Forms
4. Due: 2022 Annual Financial Reporting Forms and GAAP Audits
5. Avoiding Pitfall: Multiple Signatures on Checks
1. Message from Auditor Blaha
As we near the end of the legislative session, many of the budget and large policy bills are in conference committees*. Here are a couple helpful links to track their progress:
- Full list of bills in conference committee, with links to the bill text and other details.
- Schedule of legislative meetings, including conference committees and where you can watch them online.
Things are moving fast so if we can help you keep track bills you care about contact us at State.Auditor@osa.state.mn.us.
*Bills that pass in both the Minnesota House and Senate but are not the same will go to a conference committee to iron out the differences. That compromise then goes back to the House and Senate for another vote and, if passed, on to the Governor for signature.
2. Released: Pension Newsletter
The April Pension Division Newsletter was released last week. The Newsletter provides an update on relief association pension legislation. The Newsletter also highlights helpful website resources for relief association trustees. Resources for relief association auditors and instructions for submitting audit and agreed-upon procedures reports are also included.
3. Available: 2022 TIF Annual Reporting Forms
TIF Annual Reporting Forms, required annually to report the tax increment financing activities of each TIF district, are now available in the State Auditor Form Entry System (SAFES). Forms must be downloaded, completed off-line, and submitted via SAFES by August 1, 2023.
Instructions and SAFES information were e-mailed on Tuesday, May 2, 2023. If you did not receive an email and have TIF districts to report, please contact our office at TIF@osa.state.mn.us.
4. Due: 2022 Annual Financial Reporting Forms and GAAP Audits
For local government entities reporting on a GAAP basis of accounting, the Reporting Form, Audit, and related documents are due by June 30, 2023.
The 2022 Annual Financial Reporting Form (Reporting Form) is available through SAFES. You will need a SAFES User ID and Password to access the Form. If you need a SAFES User ID and Password please send an email to SAFES@osa.state.mn.us with your name, title, entity, public mailing address, email, and phone number.
Instructions on completing the Reporting Form can be found on the OSA website.
The Reporting Form (in the Excel Format) and Audit (in pdf format) should be submitted through SAFES. Any related Audit documents should be emailed to GID@osa.state.mn.us.
5. Avoiding Pitfall: Multiple Signatures on Checks
Minnesota law has generally required multiple signatures on checks written by cities, towns, counties, or volunteer fire relief associations. In addition to being required by statute, multiple signatures are part of an entity’s internal controls. When more than one person signs a check, there is greater assurance that the claim is correct and that payment has been approved by the governing body.
Checks should never be pre-signed. Signing checks prior to approval by the governing body defeats this statutorily-mandated safeguard.
The full Avoiding Pitfall is available on the OSA website.